Starting a business is not an easy feat, especially if you want to do it the expert’s way (which of course is recommended). In that option, the experts recommend that you have a Business Plan prepared for your business.
4 Key Benefits of a Business Plan for Small and Micro Business Success and Survival
A Business Plan is a detailed roadmap that explains your Business Idea and what is required to bring it to fruition. A business plan will usually include full details of the executive summary, business description, products/services description, sources of capital, organisational structure, marketing plan, competitive analysis, etc.
See: How to Start Your Micro or Small Business on Solid Foundation
However, for a micro start-up businessperson who may not have the funds to pay for an expert’s expensive business plan at this stage, this could be a setback. How can you overcome this challenge? Is there a walk around? The answer is “Yes”!
For a small or micro business start-up on tight budget, a simple alternative to a full-fledged Business Plan, is the “Business Plan Information Sheet”, which you can quickly put together for themselves.
What is the Business Plan Information Sheet? A Business Plan Information Sheet, as the name implies, is a few pages document that gives a clear but concise summary of the key ideas and elements you will normally find in a good business plan.
How can you prepare a Business Plan Information Sheet for your business? Download a sample of Business Plan Information Sheet (pdf). Or just copy, adopt or adapt and use the sample below. Thank me later!
Your BUSINESS Name HERE
(your website HERE)
Business Plan Information Sheet
Your Business or Company Name:
Enter your business or Company name here.
For example: Aba BUSINESS Pages (https://www.nwaba.ng)
Business Owner (or owners)
Enter your name or the name of the business owner.
Location:
Enter the business location or street address.
Target Group:
State the target group or demography your business will serve or carter for, by answering the question: Who will buy our products and services?
The Problem:
State what problems you intend to solve for your target group or demography, with your business, products and services.
The Solution:
State exactly how your business, products and services will effectively solve the problems you identified above.
Products/Services:
Clearly state or list what your Products or Services are.
See: How to Start Your Micro or Small Business on Solid Foundation
The Vision:
State the corporate vision of your business. For example at AbaBusinessPAGES our vision was “To become the 'go to' information hub and directory of Businesses, Products, Markets, Services, and Events in Aba and environs.”
The Mission:
State the corporate mission of your business. For example at AbaBusinessPAGES our mission was “To effectively link Aba, its People, Businesses, Markets, Products Services and Events with the global online community.”
Mission Statement:
State the mission statement of your business. For example at AbaBusinessPAGES our mission statement was “To build a robust, reliable and up to date info-hub for buyers, sellers and all who do, or want to do business in Aba. To be an economically viable venture that handsomely rewards all its stakeholders.”
Business Model:
State your business model by answering the question: How will this business make money? For example, the business model of AbaBusinessPAGES says: www.nwaba.ng (Aba BUSINESS Pages) will generate and sustain revenue through a combination of paid listings, featured listings, promotions and events listing, ads space sales, audience marketing, marketplace commissions, affiliate income, newsletter ads placements, website development and services.
Marketing Strategy:
State your marketing strategy by answering the question: How will I effectively enter the market and make my demography or target clients and customers know about my business, products and services?
Why start this Business?
Maybe you see an unsupplied demand which you can fulfil? Maybe your products and service are unique and innovative? Maybe you are passionate about your products or service? Whatever it is, let us know here.
See: How to Start Your Micro or Small Business on Solid Foundation
What makes your Business Unique?
Here you want to answer the question about what makes your products and services unique. Who will buy; and why will they buy from you and not your competitor?
SWOT Analysis
Strengths:
List your Strengths.
Weaknesses:
List your Weaknesses.
Opportunities:
List your Opportunities.
Threats:
List any possible threats to the business.
Initial Financial Outlay:
State what it will cost to start the business.
Sources of Initial Capital:
State the source of your start-up capital.
Source of Operating Capital:
State the source of your operating or running capital.
Income Projections:
State your expected incomes, at least for the first year of operation.
Download a sample of Business Plan Information Sheet (pdf).
See other related and useful Resources:
How to Start Your Micro or Small Business on Solid Foundation
5 Must-Know Start-Up Tips That Boost Small Business Success
4 Key Benefits of a Business Plan for Small and Micro Business Success and Survival
4 Things You Need to Start a Business That Makes You Money and Keeps You Happy
Corporate Tax Mistakes You Must Avoid!
Will Your Business Remain Relevant Tomorrow? Find out!
7 Smart Customer Care Tips to Boost Your Small and Micro Business Profits
How to Run Your Micro Business for Profit and Survival - 10 Things to Avoid
A Simple Wealth Formula Guaranteed to Make You RICH - 3 Easy Steps!
© Jay Onwukwe
Aba Business PAGES
Download a sample of Business Plan Information Sheet (pdf).
You may also like:
5 Must-Know Start-Up Tips That Boost Small Business Success
4 Things You Need to Start a Business That Makes You Money and Keeps You Happy
Corporate Tax Mistakes You Must Avoid!
Will Your Business Remain Relevant Tomorrow? Find out!
7 Smart Customer Care Tips to Boost Your Small and Micro Business Profits
How to Run Your Micro Business for Profit and Survival - 10 Things to Avoid
A Simple Wealth Formula Guaranteed to Make You RICH - 3 Easy Steps!
Stay Smart, Wealthy and Wise!
© Jay Onwukwe
